Avnet (AVT) Set to Announce Quarterly Earnings on Wednesday
Avnet (NYSE:AVT) is set to release its earnings data before the market opens on Wednesday, January 24th. Analysts expect Avnet to post earnings of $0.72 per share for the quarter. Avnet has set its Q2 guidance at $0.67-0.77 EPS and its FY18 guidance at $3.10-3.60 EPS.
Avnet (NYSE:AVT) last announced its quarterly earnings data on Thursday, October 26th. The technology company reported $0.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.05. Avnet had a net margin of 2.86% and a return on equity of 8.20%. The company had revenue of $4.66 billion during the quarter, compared to analysts’ expectations of $4.34 billion. During the same quarter in the prior year, the company earned $0.91 EPS. Avnet’s revenue was up 13.2% compared to the same quarter last year. On average, analysts expect Avnet to post $3 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Shares of Avnet (NYSE:AVT) opened at $43.28 on Monday. Avnet has a one year low of $35.67 and a one year high of $48.20. The stock has a market cap of $5,233.72, a PE ratio of 10.79, a P/E/G ratio of 1.42 and a beta of 1.09. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.63 and a current ratio of 2.78.
Several brokerages recently issued reports on AVT. ValuEngine raised shares of Avnet from a “hold” rating to a “buy” rating in a research note on Tuesday, September 26th. Longbow Research raised shares of Avnet from a “neutral” rating to a “buy” rating in a research note on Friday. Stifel Nicolaus upped their price objective on shares of Avnet from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Thursday, October 26th. Goldman Sachs Group raised shares of Avnet from a “sell” rating to a “neutral” rating and set a $38.00 price objective for the company in a research note on Friday, January 5th. Finally, TheStreet raised shares of Avnet from a “c” rating to a “b-” rating in a research note on Friday, November 10th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $39.57.
In other news, CEO Amelio J. William bought 3,000 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were bought at an average cost of $39.16 per share, for a total transaction of $117,480.00. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 1.65% of the company’s stock.
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Avnet Company Profile
Avnet, Inc is a distributor of electronic components, enterprise computer, networking and storage products and software, and embedded subsystems. The Company operates through Electronics Marketing (EM) segment. The EM segment markets and sells semiconductors; interconnect, passive and electromechanical devices (IP&E), and embedded products to a customer base serving various end markets.
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